Redmont Wealth Advisors LLC Sells 1,414 Shares of Apple Inc. (NASDAQ:AAPL)

Redmont Wealth Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 60.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 914 shares of the iPhone maker’s stock after selling 1,414 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Apple were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple during the second quarter worth about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the second quarter worth about $208,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AAPL shares. Moffett Nathanson lowered their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Barclays dropped their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Citigroup lifted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital dropped their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.78.

Apple Trading Up 0.4 %

Shares of AAPL opened at $247.77 on Wednesday. The business’s fifty day moving average is $230.80 and its 200-day moving average is $222.26. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $248.21.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. During the same period in the prior year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio is 16.45%.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.